Fed’s Plosser: U.S. Deflation Risk Gone

Philly Fed President Charles Plosser said on Friday he believes the U.S. economy is no longer at risk of slipping into a damaging deflationary spiral but that it would be unwise for the Fed to suddenly shift course. Mr Plosser told the Wall Street Journal in an interview that with deflation less of a risk, the only justification for the Fed’s controversial $600 billion bond buying program is high unemployment. – Reuters